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Bill Mitchell – Modern Monetary Theory

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Title of Bill Mitchell – Modern Monetary Theory: "Bill Mitchell – Modern Monetary Theory – Macroeconomic research, teaching and advocacy"

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When fiction parades as expert commentary – the US has run out of money again!
It didn’t take long before the elites started predicting that the US government would become bankrupt as a result of the Democrats taking control of the Congress and allegedly planning to go on a spending spree. Even the UK Guardian is propagating this line. In an article (November 11, 2026) – Democrats’ US election sweep…

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My presentation in Tokyo (October 30, 2026) promoting a degrowth agenda
A UK Guardian editorial last week (November 3, 2026) – The Guardian view on Labour’s growth obsession: a different economics is possible – challenges the dominant obsession with achieving ever faster levels of GDP growth that, in part, is linked to the fictions advanced about fiscal capacity – viz, nations must have growth to generate…

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The RBA hikes again using spurious justifications – ideology triumphing over evidence
Last week, the RBA hiked interest rates for the fifth time this year claiming that there were excess demand pressures in the economy and that unemployment had to rise further to bring demand back into line with supply. They talk about the information they get from their so-called ‘liaison’ groups but don’t disclose further information…

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Kyoto Report 2026 – 6
This weekly report will provide some insights into life for a westerner (me) who is working for an extended period at Kyoto University in Japan but who over the years of working here has increasingly began to understand the language and local cultural traditions. This is my last report from Kyoto, Japan for 2026. My…

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The intersection of neoliberalism and traditional Japanese values – Part 3
One of the unsurprising but disturbing results of my enquiry into neoliberalism in Japan is the way the so-called ‘progressive’ side of politics has embraced the main tenets of neoliberalism. For a Westerner, Japanese politics is somewhat confounding and to understand what is going on, one must abandon the typical Left=Progressive/Right=Conservative dichotomy. In Japan, the…

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